2.1 QUESTION 2 (Home loans) Table 1 below is a loan factor table that shows the monthly repayments per R1 000 on a home loan with interest rates ranging from 9,75% to 11,25% per annum, over 15, 20, 25 or 30 years. Magda is planning on buying a house and she has a disposable income of R18 570 per month. The National Credit Act (NCA)stipulates that the home loan amount that a person qualifies for should be calculated based on the disposable income. Table 1: Loan factor table for calculating monthly repayments on a home loan per R1.000 Interest % Years 15 20 25 30 9.75% 10.59 9.49 8.91 8.59 10.00% 10.75 9.65 9.09 8.78 10.25% 10.90 9.82 9.26 8.96 10.50% 11.05 9.98 9.44 9.15 10.75% 11.21 10.15 9.62 9.33 11.00% 11.37 10.32 9.80 9.52 11.25% 11.52 10.49 9.98 9.71 [21] 2.1.1 2.1.2 Define the term monthly repayments in this context. Write down the loan factor that will be used in calculations, if Magda decides to pay her monthly repayments over a 25-year period at an interest rate of 10.75%. (2) (2) Page 4 P ​